Published Market Report | Global Railway Systems Market Size, Share, & Forecast 2023-2030

The global railway systems market is expected to reach US$ 29.2 billion by 2030, with an annual growth rate of more than 3.6%.

According to RationalStat's recent industry analysis, the Global Railway Systems Market value is estimated at US$ 22.8 billion in 2023 and is expected to rise at a strong CAGR of over 3.6% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

Railway systems, also known as rail transport or railroads, encompass the infrastructure, vehicles, and associated technologies used for the transportation of goods and passengers on tracks or railways. The components of railway systems include tracks, trains, stations, signaling systems, and various supporting infrastructure.

Many governments invest in railway infrastructure as part of broader transportation plans. High-speed rail projects, railway network expansion, and modernization efforts receive support to enhance connectivity, promote economic development, and improve overall transportation efficiency.

According to a deep-dive market assessment by RationalStat, the global railway systems market has been analyzed on the basis of market segments, including type, system type, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global Railway Systems market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Railway Systems market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Railway Systems Market: Segmental and Market Share Analysis

• On the basis of type, locomotive segment is anticipated to dominate the market. They are mostly used in US and Canada as the area of these countries is huge and the distance travelled for goods.
Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 22.8 billion
Market Size Forecast US$ 29.2 billion
Growth Rate 3.6%
Dominant Segment Locomotive
Dominant Region North America

Key Market Drivers
• Increasing preference for rail public transport
• Rising demand for secure, safer, and efficient transport system

Companies Profiled
• CRRC
• Alstom
• ABB
• Siemens AG
• Thermo King
• Knorr Bremse
• Hyundai Rotem
• Mitsubishi Heavy Industries
• Toshiba
• Hitachi
• Wabtech Corporation
• STADLER RAIL AG

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.

• In September 2022: British Columbia announced a high-speed rail study to connect significant Pacific Northwest communities. The project's second phase of ultra-high-speed ground transport, intended to connect Vancouver, Seattle, and Portland, is likely to receive US$ 300,000 from the fund.

Some of the prominent players and suppliers operating and contributing significantly to the global Railway Systems market growth include CRRC, Alstom, ABB, Siemens AG, Thermo King, Knorr Bremse, Hyundai Rotem, Mitsubishi Heavy Industries, Toshiba, Hitachi, Wabtech Corporation, and STADLER RAIL AG, among others.

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RationalStat has segmented the global railway systems market based on type, system type, end user and region
• Global Railway Systems Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
o Locomotive
o Metros
o Monorails
o Trams
o Freight Wagons
o Passenger Coaches
o Others
• Global Railway Systems Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by System Type
o Auxiliary Power
o HVAC
o Propulsion
o On Board Vehicle Control
o Train Information
o Train Safety
• Global Railway Systems Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by End User
o Passenger Transit
o Cargo Train
• Global Railway Systems Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o North America Railway Systems Market
 US
 Canada
o Latin America Railway Systems Market
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Railway Systems Market
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Railway Systems Market
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Railway Systems Market
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Railway Systems Market
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Railway Systems Report:
• What will be the market value of the global railway systems market by 2030?
• What is the market size of the global railway systems market?
• What are the market drivers of the global railway systems market?
• What are the key trends in the global railway systems market?
• Which is the leading region in the global railway systems market?
• What are the major companies operating in the global railway systems market?
• What are the market shares by key segments in the global railway systems market?

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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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